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Share to Twitter Share to Linkedin Democrats continue to decry high gasoline prices and accuse oil companies of price gouging, but lawmakers should consider whether their policies restricting domestic energy production are to blame for soaring consumer prices. Democrats may want to look in the mirror before pointing the finger at the people who create jobs and produce the energy this country runs on. The Democrats' own policies are causing the energy scarcity that's driving up prices. Oil and gas prices have risen because of falling supply. Less than a decade ago, there were 1,600 active drilling rigs in the country producing or searching for oil; now, there's a quarter of that number. There were twice as many drilling rigs operating in the Gulf of Mexico before the pandemic hit in spring 2020. That was also the last time oil was at or above $100 a barrel. Why? Because the energy sector faces severe supply chain shortages, including skilled … [Read more...] about Congress Picks Populism Over Increased Supply With Price Gouging Legislation

India is 80% dependent on imports for meeting its oil needs. Retail rates adjust according to the global movement in crude prices. Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × A government official, while speaking to CNBC-TV18 , said the oil marketing companies ( OMCs ) may suffer losses owing to a pause in retail fuel rates for the last 40 consecutive days across the country, despite the rising trend in international crude prices. The official, however, was not sure when petrol and diesel price hikes will resume bridging the price gap created by international crude oil prices that are trading past $100 a barrel. According to the official, the current price revision standstill is not sustainable. "Halting retail price revision hurting for OMCs. Want refiners to make a profit. Pitching for a balanced solution, not … [Read more...] about OMCs suffering losses due to delay in retail fuel price hike, says govt official

Tesla, Inc.'s ( TSLA ) shares reversed course from their recent downward trajectory and rose by 3% on Monday, Jan. 10, after key analysts upped their price targets for the stock. Goldman Sachs analyst Mark Delaney confirmed Tesla as a Top Pick for his firm, and Tesla bull Adam Jonas of Morgan Stanley said that the company was a winner in the electric vehicle (EV) race. Both analysts increased their price targets for Tesla shares. The increase in share price came after a bruising four-day period for the stock during which its price fell from $1,200 to as low as $980. The decline occurred even after Tesla announced record delivery numbers . Key Takeaways Electric carmaker Tesla's stock reversed course and rose yesterday after key analyst revisions to its price targets. Noted Tesla bull Adam Jonas of Morgan Stanley revised his price target to $1,300 from $1,200 and stated that Tesla was winning the EV marathon. Goldman Sachs analyst Mark Delaney rated Tesla stock a Top … [Read more...] about Tesla (TSLA) Stock Rises After Analysts Boost Price Targets

Representative Image.(Courtesy : AP) India will soon be sending trade delegations to at least nine wheat importing nations to explore the possibilities of boosting wheat exports. The move comes amid widespread loss of yield in major wheat growing states, and low response to public procurement by farmers who continue to sell at much higher prices to traders. The Centre will send trade delegations to Morocco, Tunisia, Indonesia, Philippines, Thailand, Vietnam, Turkey, Algeria, and Lebanon to promote Indian wheat , the Commerce and Industry Ministry said on May 12. The move is part of the government's efforts to export 10 million tonnes of wheat in 2022-23, amid rising global demand, it said. Not more than 10 days after the Ukraine crisis began, the Centre began discussions with various countries, including Egypt, Turkey, China, Bosnia, Sudan, Nigeria and Iran on commencing wheat exports. Initial shipments have also begun to some of these nations. The Agricultural and … [Read more...] about India to send trade delegations to 9 countries to boost wheat exports

Representative Image | Wheat sacks are loaded onto a truck at the grain market in Punjab. The Commerce Department had fought the plan to ban the export of wheat even as the Agriculture Ministry sounded the alarm on the fast-reducing estimates of wheat production due to the heatwave, officials told Moneycontrol . They added that the Ministry of External Affairs (MEA) had supported keeping exports under bilateral arrangements since the Prime Minister and External Affairs Minister have till now been requested by leaders from many countries to help ensure their food security in the face of a global shortage of wheat. On May 13, India banned wheat exports with immediate effect as the world's second-largest wheat producer attempted to stabilise rising domestic prices. The government also struggled with the public procurement process, which received a low response from farmers who continued to sell at much higher prices to traders. The ban came in the backdrop of official … [Read more...] about Exclusive | Commerce Department pushed to keep wheat exports open but agri ministry wanted ban

Sanjay Sapre is the current President of Franklin Templeton India. His term ends in July 2022. Late evening on April 23, 2020, Sanjay Sapre , president of Franklin Templeton Asset Management (India) Ltd, made probably, one of the most awkward public announcements in his life—that of winding up six of the fund house’s marquee debt funds. These were all open-ended debt funds and weren’t meant to be shut down. Franklin Templeton believed that by winding up the schemes, it would buy the fund house time to sell its illiquid securities once market conditions improved. At the time, the COVID-19 global pandemic was declared, equity markets had fallen sharply and the debt market had frozen. Debt fund investors rushed to take their money out and fund houses everywhere saw redemptions. Franklin Templeton India was the worst affected because it had been running a high-yield strategy across six of its debt schemes, totaling assets worth Rs 25,215 crore as of April 23, 2020. Its … [Read more...] about Franklin Templeton is here to stay in India, we are hiring and getting ready to launch new funds: Sanjay Sapre

Finance Secretary TV Somanathan Despite rising prices of fertilisers and crude oil putting pressure on the economy, India is “in a relatively stronger position than many other countries”, finance secretary T V Somanathan told CNBC TV18 in an exclusive interview. “India is adversely less affected than others (countries) who are adversely more affected than us,” Somanathan said. He argued that India has at least escaped the global foodgrain crisis in the wake of the Ukraine-Russia war, owing to the large domestic production of wheat. Saying that higher fertiliser prices pose a difficulty, Somanathan said it will have a big fiscal impact. “The government has already announced its fertiliser subsidy for the forthcoming season. There is going to be a substantial increase in the budget for fertiliser subsidies. It will certainly be above Rs 2 lakh crore,” he said. On crude oil, he said that while prices are high, they haven’t climbed much in the last one month. “Over the last 30 … [Read more...] about India in a relatively stronger position than many other countries: Finance secretary

Share to Twitter Share to Linkedin Naturally, the war in Ukraine and its impact on Russian oil flows is the dominant factor in today’s oil market, but few wars last forever. It is possible that Putin will declare victory and leave in the near future, but equally possible that the conflict will revert to pre-invasion status, that is, continuing but low-level fighting in eastern Ukraine. Aside from these unknowns (or at least, known only to Putin), there are a number of salient facts that need to be considered but are often overlooked. The most important thing, and a lesson that never seems to penetrate the public mind: wars and crises tend to be transient and temporary, and many — if not most — factors will soon revert to pre-crisis behavior. First, sanctions will ease: Russian oil and gas have not been put under sanctions by any major consuming nations; the biggest impact has come from companies that have voluntarily ceased purchases primarily of oil. … [Read more...] about The Oil Market After The War

Representative image Consumer Price Index (CPI) data for April, released on May 12, showed India's headline retail inflation rate hit a 95-month-high of 7.79 percent. This was the fourth consecutive month in which inflation came in higher than the upper limit of the Reserve Bank of India's (RBI) 2-6 percent mandate. However, in several states and union territories (UTs) prices have risen at a faster pace for a longer period. In Maharashtra, CPI inflation has been above 6 percent for five consecutive months and in Haryana, it has been six straight months of 6 percent-plus inflation. Returning to western India, Dadra and Nagar Haveli is in the midst of a nine-month-long stretch of 6 percent-plus inflation. Retail inflation has averaged 8.3 percent in Dadra and Nagar Haveli over the last nine months—the highest of any region in India. According to the CPI data, retail inflation in April exceeded 6 percent in 26 –or 74 percent–of 35 states and UTs for which data was available. … [Read more...] about 26 states, UTs faced 6%-plus CPI inflation in April

advertisement advertisement Solyndra was a solar startup that was primed to succeed–it raised over $1 billion from investors, and managed to secure a prized $535 million federal loan guarantee in 2009 to build a solar panel factory. The government keeps saying that the clean energy industry and green-collar jobs will be what saves the economy, and Solyndra was a large part of that theory. This week, Solyndra announced that it is bankrupt. While this is bad news for investors–and the DOE loan program–it might not necessarily be a bad thing for the solar industry. In a statement, Solyndra explained why it went bankrupt: “Despite strong growth in the first half of 2011 and traction in North That price compression is an important point. Solyndra thought it would be successful when photovoltatic modules cost $3.25 per watt. But in the past 24 months, solar prices have fallen 70%, and are now moving close to grid parity (the point when it is just as cheap … [Read more...] about Why It’s Not A Bad Thing For Solar Power That Solyndra Went Bankrupt